QUIZ 680

Check your Knowledge Quotient!

1. A giro, or giro transfer, is a payment transfer from one bank account to another bank account and instigated by the payer, not the payee.

A. True

B. False

C. Both of the above

D. None of the above

2. ACH full form is Automated Clearing House.

A. True

B. False

C. Both of the above

D. None of the above

           

3. In the UK, the giro service was originally known as National Giro.

           

A. True

B. False

C. Both of the above

D. None of the above

4. The word "giro" is borrowed from Dutch "giro" and/or German "Giro," which are both from Italian "giro" meaning "circulation of money."

A. True

B. False

C. Both of the above

D. None of the above

5. The term "bank" was not used initially to describe the service.

A. True

B. False

C. Both of the above

D. None of the above

Best of luck!

Answers

1 – A, 2 – A, 3 – A, 4 – A, 5 – A